I heard that in the past, one can obtain German residency by investing and run a business in Germany. Recently I heard that the government suspended this option. Is this true? If so, when can we expect this option to be resumed?
Due to the coronavirus situation, Germany has decided to have a travel ban for the upcoming 30 days. But this will have no impact on the existing and future visa applications. It is still possible to obtain a residence permit as an entrepreneur in Germany according to the § 21 Residence Act.
The possibility of obtaining a residence permit through investment is regulated by law. The government can only suspend legal regulation by changing the law. The investment needs to fulfill the needs of Germany; have a beneficial economic impact; be fully covered by the own capital of the client or bank loan. To ensure the sustainability of the business project, the following criteria will also be taken into account: viability of the business plan; the relevant business experience; amount to be invested in Germany; impact of the business project on employment and skills; contribution of the project to innovation and research. We recommend that our clients develop a business idea; draft a business plan; discuss the business plan with the local Chamber of Commerce and Industry; incorporate a company; apply for visa according to § 21 AufenthG; enter Germany and registration with the local registration office; apply for a residence permit by submitting of all documents.
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